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Troubled Debt Restructurings | 9 Months Ended
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Sep. 30, 2018
Troubled Debt Restructurings [Abstract] |
Troubled Debt Restructurings | NOTE 5 – Troubled Debt Restructurings At September 30, 2018, the Company had 26 loans totaling $8.9 million compared to 21 loans totaling $7.8 million at December 31, 2017, which were considered as TDRs. The Company considers a loan to be a TDR when the debtor experiences financial difficulties and the Company grants a concession to the debtor that it would not normally consider. Concessions can relate to the contractual interest rate, maturity date, or payment structure of the note. As part of the workout plan for individual loan relationships, the Company may restructure loan terms to assist borrowers facing financial challenges in the current economic environment. To date, the Company has restored four commercial loans previously classified as TDRs to accrual status. The following table summarizes the concession at the time of modification and the recorded investment in the Company’s TDRs before and after their modification.
|  | For the nine months ended September 30, 2018
|  |  |  |  |  |  |  |  |  |  |  | Pre- |  | Post-
|  |  |  |  |  |  |  |  |  |  |  | modification |  | modification
|  | Renewals |  | Reduced |  | Converted |  | Maturity |  | Total |  | outstanding |  | outstanding
|  | deemed a |  | or deferred |  | to interest |  | date |  | Number |  | recorded |  | recorded
(dollars in thousands) |  | concession |  | payments |  | only |  | extensions |  | of loans |  | investment |  | investment
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied RE |  | 1 |  | - |  | - |  | - |  | 1 |  | $ | 506 |  | $ | 592
Business |  | 4 |  | - |  | - |  | - |  | 4 |  |  | 1,207 |  |  | 1,532
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate |  | 2 |  | - |  | - |  | - |  | 2 |  |  | 549 |  |  | 669
Total loans |  | 7 |  | - |  | - |  | - |  | 7 |  | $ | 2,262 |  | $ | 2,793
|  | For the nine months ended September 30, 2017
|  |  |  |  |  |  |  |  |  |  |  | Pre- |  | Post-
|  |  |  |  |  |  |  |  |  |  |  | modification |  | modification
|  | Renewals |  | Reduced |  | Converted |  | Maturity |  | Total |  | outstanding |  | outstanding
|  | deemed a |  | or deferred |  | to interest |  | date |  | Number |  | recorded |  | recorded
(dollars in thousands) |  | concession |  | payments |  | only |  | extensions |  | of loans |  | investment |  | investment
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-owner occupied RE |  | 1 |  | - |  | - |  | - |  | 1 |  | $ | 976 |  | $ | 976
Business |  | 1 |  | 1 |  | - |  | - |  | 2 |  |  | 378 |  |  | 387
Total loans |  | 2 |  | 1 |  | - |  | - |  | 3 |  | $ | 1,354 |  | $ | 1,363
As of September 30, 2018 and 2017, there were no loans modified as TDRs for which there was a payment default (60 days past due) within 12 months of the restructuring date.

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- Definition Disclosure of the accounting policy for loan agreements whose terms have been modified because of the inability of the borrower for financial reasons to comply with the terms of the original loan agreement. A creditor discloses material facts pertaining to significant modifications. + References No definition available. + Details
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